Geo Energy appoints former minister as chief commissioner of coal, power subsidiaries
Tuesday, December 26 2017 - 01:16 AM WIB
SGX-listed coal firm Geo Energy Resources Limited announced last week the appointment of M. Ryaas Rasyid, a former Indonesian minister, as President Commissioner of PT Sungai Danau Jaya (SDJ), the company?s subsidiary which operates coal concession in Tanah Bumbu Regency, South Kalimantan Province.
The company said in a statement last week that Rasyid will also be appointed the President Commissioner of another subsidiary PT Geo Energy Coalindo (GEC) upon approval of the governing authority in Indonesia. GEC holds more than 99 percent shares in PT Geo Tebo Power Inti, which was set up in 2016 to explore opportunity in power generation business in Indonesia.
?Prof. Dr. M. Ryaas Rasyid will provide greater perspective and insights to the Group?s operations and businesses in Indonesia, having served as the Minister of Local Autonomy, the Minister of State Administrative Reform, a Member of National Parliament and a Member of Presidential Advisors in Indonesia,? the statement said.
?Rasyid is a strong addition to the Group?s advisory panel and will assist and advise the Group on governmental matters in Indonesia,? it added.
Editing by Reiner Simanjuntak